Here's The Controversial Argument From A Major Bank That A US Debt Default Wouldn't Be That Bad Staff
Posted: Oct 09, 2013 11:49 AM
Within a few weeks of the Oct. 17 deadline, the U.S. Treasury would presumably run out of cash and have to delay payments. So what would that actually mean for markets? In a recent note to clients, HSBC's Steven Major and Lawrence Dyer say that a delay wouldn't be all that bad for U.S. sovereign debt and those that hold it.